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Commercial Credit News
VAT cut could prove 'costly for smaller retailers'
Friday, 28 November 2008

The Government’s 2.5% reduction in VAT has come under fire from smaller retailers, who believe that the cost of administering the change will vastly overshadow the benefits of the reduction. The FPB is warning that the tax cut – designed to boost high street trade – could backfire because it is unlikely to convince many retailers to slash their prices.

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GDP figures 'support need for full one per cent rate cut'
Friday, 28 November 2008

The Office for National Statistics (ONS) has published revised GDP figures for quarter three 2008 suggesting that 'the UK economy is now in serious recession'. Construction and distribution appear to be the main sectors driving the downturn.

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British businesses facing debt barrier
Friday, 28 November 2008

Creditsafe, the business information experts, have published new research identifying the ‘credit curve,’ which highlights that the cost of servicing debt trebles for businesses expanding from a turnover of £250,001-£500,000 to £500,001-£1,000,000.

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ICM appoints new head of recruitment
Thursday, 27 November 2008

The Institute of Credit Management (ICM) has promoted Lindsey Burke to Head of its recruitment service ‘The Recruitment Consultancy’ - following Ann Stutz’s retirement.

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Credit Management Training appoint new director
Thursday, 27 November 2008

James Jenkins MICM (Grad) FACP (Grad) has been appointed as director of training at Credit Management Training Ltd.

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Britain's businesses need survival plan to cope with problem of late payments
Thursday, 27 November 2008

British businesses are increasingly being hit by the late payment of bills by customers, new research reveals. On average, invoices are paid after 55.5 days across the European Union as a whole with Portugal, Spain and Italy taking a staggering 91 days to meet their bills.

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Temporary measures announced in Pre-Budget report 'do not go far enough'
Thursday, 27 November 2008

Following the Government’s Pre-Budget report announcement, the Forum of Private Business (FPB) believes that measures to help more small firms access finance in the short term could be offset by its failure to deliver much-needed tax reforms, including a reduction in small firms’ corporation tax.

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UK PLC payment delays hits small business
Thursday, 27 November 2008

As the credit crunch begins to squeeze British business, UK PLC is delaying payment of debts well past 90 days according to research by Leeds University Business School¹s Credit Management Research Centre (CMRC).

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Commission to overlook SME lending
Thursday, 27 November 2008

Business secretary Peter Mandelson has announced the creation of a new panel to monitor how banks are lending to small businesses.

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Late payments top problem poll
Thursday, 27 November 2008

Despite the attention being placed on how much money banks are lending to small businesses, a poll by UK Business Forums has revealed it is tackling late payment which entrepreneurs think the government should make their top priority.

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Accountants are preferred source of financial advice for SMEs
Thursday, 27 November 2008

New research just released, has revealed that, in the UK, small firms trust their accountants more than their bank managers when it comes to seeking financial advice.

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